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Tate Publishing CEO speaks after being accused of fraudulent business practices

Tate Publishing CEO speaks after being accused of fraudulent business practices

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Updated: 7:12 AM CDT May 5, 2017

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WEBVTT COUNTY.PATTY: FRIENDS TELL ME THEPILLARS OF THE MUSTANG COMMUNITY-- HOURS AGO, THEY WEREARRAIGNED ON CHARGES OF FRAUD.>> WE WILL MAKE SURE THAT THETRUTH WINS OUT.PATTY: THE CEO SAYS MORE THAN800 COMPLAINTS FILED AGAINST APUBLISHING ARE FALSE.>> WE WENT OUT OF BUSINESS .>> WE'VE GOT ABOUT 3500 AUTHORSTOTAL.>> AS TO WHAT KINDS OFCOMPLAINTS, WE'VE GOT THEM FROMALL OVER THE WORLD.WE'VE GOT THEM FROM SOUTH AFRICATO EUROPE,OKLAHOMA VICTIMS.PATTIE: RYAN AND RICHARD TATEWERE ARRAIGNED ON ALLEGATIONS OFRACKETEERING.PROSECUTORS SAY THEY CLOSE THECOMPANY IN JANUARY BUT WERESTARTING A NEW ONE.VICTIMS CLAIMED THEY WOULD GIVETHE COMPANY MONEY BUT NEVER HEARFROM THEM AGAIN OR GET THEIRPRODUCT OR ROYALTIES.THE STUDIO BASED IN MUSTANG.KOCO GOT AN INSIDE LOOK AT THECOMPANY A FEW YEARS AGO.ATTORNEYS CLAIM THEY HAVESTATEMENTS SHOWING MONEY BEINGTRANSFERRED ON THE PUBLISHINGCOMPANY TO THE TATES PERSONALACCOUNTS.>> IF THEY'VE ATTEMPTED TO HIDETHEIR ASSETS, WE ARE GOING TO BEUNDAUNTED IN OUR EFFORTS TO FINDTHOSE ASSETS.PATTY: THE ATTORNEY GENERALGENERAL'S OFFICE SAYS ADDITIONALPEOPLE COULD BE CHARGED IN THISCASE.AT THIS POINT, THE TATES ARE

Tate Publishing CEO speaks after being accused of fraudulent business practices

The founder and CEO of a Mustang Christian-based publishing and music record company were arraigned Thursday on several complaints of fraudulent business practices.

Attorney General Mike Hunter says his consumer protection division has received nearly 850 complaints from around the world from publishers, artists and musicians against Tate Publishing and Tate Music Group.

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Founder Richard Tate and CEO Ryan Tate face complaints of embezzlement, racketeering and extortion by threat, among other complaints. The company shut down in January. Hunter said his office was already investigating the complaints but hundreds more were received when the company shut down. Recent changes with the Tates forced Hunter’s office to move quickly.

“There was some indication that the Tates were beginning a new enterprise,” Hunter said.

Court records stated investigators discovered a bank trail in which the Tates were transferring money from the publishing account to their own personal accounts. Hunter says efforts are underway to pay the victims.

“[The Tates] have attempted to hide their assets, we’re going to be undaunted in our efforts to find those assets,” he said.

KOCO’s Patty Santos spoke with Ryan Tate as he was walked over into the courthouse for his arraignment. He said the allegations are false.

“We’re looking for our day in court and fighting them and we’ll make sure the truth wins out,” he said.

When asked about the countless victims, he said, “That’s not true, we went out of business for about three months but we have about a thousand authors total so most of them are very, very happy."

Their bond was set at $100,000 each. If convicted they could face prison time. Hunter said others could also face charges, the investigation is ongoing.